Yettel Serbia's EBITDA up 5.3% in 2023

Total revenue at Yettel Serbia, which is wholly-owned by the telecommunications arm of privately-held Czech PPF Group, rose to 509 million euro in 2023 from 481 million euro a year earlier, PPF Telecom Group said in an annual financial report last month.

Capital expenditures (incl. spectrum) fell 9.1% to 30 million euro last year, the statement read.

In March 2022, PFF Group's mobile operators in Hungary, Bulgaria and Serbia started fully operating under the Yettel brand.

Cetin Serbia, a provider of fixed and mobile infrastructure to Yettel Serbia, saw its EBITDA after leases rise 21% to 81 million euro in 2023, while revenue increased to 121 million euro last year from 103 million euro in 2022, PPF Telecom Group said in the same report.

Cetin Serbia's capital expenditures (incl. spectrum) inched up 2.9% to 35 million euro in 2023.

Serbia, with a population of around 7 million, has three mobile operators - state-owned Telekom Srbija; Yettel (formerly known as Telenor); and the local unit of A1 Telekom Austria Group - A1 Srbija (known previously as Vip Mobile). At the end of 2023, Telekom Srbija held a 44.15% share of the overall number of mobile subscribers, followed by Yettel with 31.87% and A1 Srbija with 23.98%, according to data from Serbia's telecommunications agency, RATEL.

($ = 0.940 euro)